Insider Buying: Tenax Therapeutics (NASDAQ:TENX) Major Shareholder Purchases $722,392.09 in Stock

Tenax Therapeutics, Inc. (NASDAQ:TENX) major shareholder Adar1 Capital Management, Llc purchased 403,571 shares of the stock in a transaction dated Monday, August 31st. The shares were acquired at an average cost of $1.79 per share, for a total transaction of $722,392.09. Following the completion of the acquisition, the insider directly owned 5,257,389 shares of the company’s stock, valued at approximately $9,410,726.31. This trade represents a 8.31% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Adar1 Capital Management, Llc also recently made the following trade(s):

• On Wednesday, September 2nd, Adar1 Capital Management, Llc acquired 187,704 shares of Tenax Therapeutics stock. The shares were bought at an average price of $1.80 per share, for a total transaction of $337,867.20.
• On Tuesday, September 1st, Adar1 Capital Management, Llc acquired 179,058 shares of Tenax Therapeutics stock. The stock was bought at an average cost of $1.80 per share, with a total value of $322,304.40.
• On Monday, August 24th, Adar1 Capital Management, Llc bought 107,374 shares of Tenax Therapeutics stock. The stock was bought at an average price of $1.75 per share, with a total value of $187,904.50.
• On Friday, August 21st, Adar1 Capital Management, Llc bought 716,369 shares of Tenax Therapeutics stock. The shares were bought at an average cost of $1.77 per share, for a total transaction of $1,267,973.13.
• On Thursday, August 20th, Adar1 Capital Management, Llc purchased 202,124 shares of Tenax Therapeutics stock. The shares were bought at an average price of $1.78 per share, for a total transaction of $359,780.72.

Tenax Therapeutics Trading Up 9.0%

TENX stock opened at $1.94 on Friday. The firm’s 50-day moving average is $9.86 and its two-hundred day moving average is $11.84. The company has a market capitalization of $72.59 million, a price-to-earnings ratio of -1.31 and a beta of 0.83. Tenax Therapeutics, Inc. has a 52 week low of $1.31 and a 52 week high of $19.40.

Tenax Therapeutics (NASDAQ:TENX) last posted its quarterly earnings data on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.03. On average, equities research analysts predict that Tenax Therapeutics, Inc. will post -1.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on TENX shares. Evercore downgraded Tenax Therapeutics from an “outperform” rating to an “in-line” rating and set a $5.00 price objective on the stock. in a research note on Tuesday, August 11th. Leerink Partners set a $4.00 target price on Tenax Therapeutics in a report on Tuesday, August 11th. Wall Street Zen cut shares of Tenax Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. UBS Group downgraded shares of Tenax Therapeutics to a “neutral” rating in a report on Monday. Finally, Chardan Capital lowered shares of Tenax Therapeutics from a “buy” rating to a “neutral” rating and set a $5.00 price objective for the company. in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $14.00.

Institutional Investors Weigh In On Tenax Therapeutics

Several large investors have recently modified their holdings of the stock. Letko Brosseau & Associates Inc. acquired a new stake in shares of Tenax Therapeutics during the fourth quarter worth $130,000. Virtu Financial LLC purchased a new stake in shares of Tenax Therapeutics during the third quarter valued at $92,000. Corient Private Wealth LLC acquired a new position in shares of Tenax Therapeutics in the 4th quarter valued at $151,000. Bank of America Corp DE boosted its position in shares of Tenax Therapeutics by 391.2% in the 1st quarter. Bank of America Corp DE now owns 18,569 shares of the specialty pharmaceutical company’s stock valued at $297,000 after purchasing an additional 14,789 shares during the period. Finally, Quadrature Capital Ltd purchased a new position in Tenax Therapeutics in the 4th quarter worth about $252,000. 1.67% of the stock is owned by institutional investors.

About Tenax Therapeutics

Tenax Therapeutics, Inc is a clinical-stage specialty pharmaceutical company developing drug delivery technologies designed to improve pain management in acute care settings. The company’s proprietary platform leverages biodegradable polymer matrices to create sustained-release formulations of local anesthetics, aiming to extend the duration of pain relief while reducing reliance on opioid medications.

Tenax’s lead development programs focus on injectable formulations intended for infiltration and peripheral nerve block applications, with the goal of providing longer-lasting analgesia following surgical and procedural interventions.